Snowflake (NYSE:SNOW) Trading Up 0.6%

Shares of Snowflake Inc. (NYSE:SNOW) traded up 0.6% during trading on Tuesday . The company traded as high as $118.98 and last traded at $118.67. 1,606,423 shares were traded during trading, a decline of 76% from the average session volume of 6,675,716 shares. The stock had previously closed at $118.00.

Wall Street Analyst Weigh In

SNOW has been the topic of a number of recent research reports. Jefferies Financial Group reduced their target price on shares of Snowflake from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. TD Cowen decreased their target price on shares of Snowflake from $230.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 19th. KeyCorp boosted their price target on Snowflake from $185.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Stifel Nicolaus cut their price target on Snowflake from $200.00 to $168.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price objective on shares of Snowflake in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.03.

Snowflake Stock Down 2.1 %

The firm has a market capitalization of $38.68 billion, a PE ratio of -42.21 and a beta of 0.85. The stock’s fifty day simple moving average is $129.48 and its 200 day simple moving average is $153.01.

Snowflake (NYSE:SNOW) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $868.80 million during the quarter, compared to the consensus estimate of $851.72 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. On average, analysts predict that Snowflake Inc. will post -2.31 EPS for the current year.

Insiders Place Their Bets

In other news, insider Benoit Dageville sold 558 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $128.31, for a total value of $71,596.98. Following the transaction, the insider now owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Benoit Dageville sold 558 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $128.31, for a total value of $71,596.98. Following the completion of the sale, the insider now directly owns 63,222 shares of the company’s stock, valued at $8,112,014.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa Briggs sold 848 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $142.98, for a total transaction of $121,247.04. Following the sale, the director now owns 4,247 shares in the company, valued at $607,236.06. The disclosure for this sale can be found here. Insiders sold a total of 527,678 shares of company stock worth $65,491,235 over the last quarter. 7.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently made changes to their positions in the business. Accent Capital Management LLC bought a new stake in Snowflake during the 4th quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Snowflake during the first quarter valued at approximately $29,000. FinTrust Capital Advisors LLC lifted its holdings in shares of Snowflake by 193.9% in the fourth quarter. FinTrust Capital Advisors LLC now owns 194 shares of the company’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Snowflake in the first quarter worth $31,000. Finally, Hartford Financial Management Inc. bought a new position in shares of Snowflake during the first quarter worth $32,000. 65.10% of the stock is currently owned by hedge funds and other institutional investors.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.